Jan 4 - The Island's most expensive properties

Good morning !

Looks like the Coho Ferry will be out of commission until February, making a BC Ferry ride to Vancouver the only option for getting to the states by car.

— Robyn

Today’s approx. read time: 5 minutes

🌡️ Weather Forecast

Today: 🌧️ 9 / 7

Tomorrow: 🌧️ 8 / 5

Day after: 🌦️ 7 / 2

7-day forecast

NEWS

The Island’s most expensive properties in 2024

The latest property assessments have been released, with BC Assessment appraising the value of more than 380K properties across the province.

Homeowners throughout the Island can expect to receive their latest property value—reflecting the market value as of July 1, 2023—in the mail within the next few weeks.

The Island’s total assessed value for 2024 is $386B, an increase of $1B from last year. 

The Island’s top properties were mainly acreages, with only 12 single-family homes cracking the top 50.

The highest property value overall in the Island area is another island entirely—James Island, a small island near Saanichton, which has a property value of $57.9M, the third highest-valued property in BC.

The highest property value on the Island is an acreage in Nanoose Bay, valued at $23.1M (a dip from last year’s $27M value). The highest-valued single-family home came in at $16.2M and was found in Oak Bay, where the area’s top 10 single-family homes with the highest values are found. 

Vancouver had by far the highest number of BC properties in the top 500 most valuable, with a single-family home in Kitsilano topping the list at $81.7M. In the Island area, 11 properties made the top 500 list.

⚠️ Capital Bulletin

Road Closures: See which roads are currently closed in Victoria.

Coho Ferry out of service for annual maintenance until Feb. 7.

Driving today? Check the current traffic situation via Google.

NEWS

CRD seeks your approval to borrow $85M for housing

The district wants to take on $85M in debt to help spur the development of new homes and to increase the supply of affordable, inclusive, and adequate housing in the region.

The CRD has started the clock on an alternative approval process (AAP) whereby if 10% of respondents decide against the idea, it must go to a referendum.

The CRD has a population of 331,905, so if 33,191 people vote to reject the idea of borrowing money, it would go to another vote. The money would have to be repaid within 30 years. A spokesman said the CRD had already borrowed $35M and the new money would be used in provincial-federal housing projects. 

“This is an important next step for the CRD in continuing to provide affordable housing options in our region,” CRD chair Colin Plant tells Capital Daily.

“Our hope is that other levels of government will step forward to match the $85 million of new funding we are preparing to acquire and to collectively make a significant investment in affordable housing in the CRD.”

You can submit an elector response if you are 18 years or older, live in the CRD and have lived in BC for at least six months, or have owned property in the CRD for 30 days or more. The deadline to submit a signed elector response form is Feb. 5.

⭐️ Capital Picks

📚 No more library late-fees at GVPL.

🎊 Start the new year with a fresh perspective! Pursue hope, healing, and happiness at Intertidal Counselling & Wellness. Make 2024 the year you thrive. Book a consultation today.*

🧮 2024 CRD provisional financial plan session. Register. Ask a Question.

*Sponsored Listing

🗞️ In Other News

Duncan family finds bear has moved in under their home
For the last two weeks, Crystal Weaver’s dog has been barking and running around as if something’s up. Turns out the dog was right. Only it wasn’t up—it was under. Weaver’s husband went under the house and found a black bear had set up a den there. The plan is to board it up so the bear doesn’t stay there any longer, Weaver says. [CBC]

Victoria’s Thunderbird Park part of a question on Jeopardy
During the episode that aired New Year’s Day, host Ken Jennings asked: “Thunderbird Park in Victoria, BC is renowned for its collection of these monumental carvings, some more than 40 feet high.” The contestant, a sports journalist from Chicago, answered correctly. “What are totem poles?” Thunderbird Park is next to the Royal BC Museum, across from the Inner Harbour. [CHEK]

Belfry cancels controversial play
It’s called The Runner, and its inclusion in the theatre’s Spark Festival lineup for March sparked criticism and petitions from people who wanted the play to remain in the lineup, and those who wanted it removed. The play is a one-man piece about a member of Z.A.K.A,—an Israeli volunteer-based non-government rescue and recovery organization. [Times Colonist]

Lab volunteer questions cause of high bacteria level at Willows Beach 
Lynn Wharram, a volunteer with Blue Water Task Force, is in contact with the district of Oak Bay to find out what caused the dramatic increase in bacteria at the popular beach this summer. Wharram says that the raised bacteria levels did not align with the usual causes, such as rainfall, given the dry weather. Island Health points to water temperature, tides and wastewater as potential causes. [Oak Bay News]

🗓️ Things to do

K-Pop Night: Show off your moves at this K-Pop dance party at Lucky Bar, tonight at 10pm.

West Coast Soul Collective: See this collection of Victoria’s best young musicians at Hermann’s, tomorrow at 7pm. 

Classic Rock Tribute Night: See the Brice Tabish Band take on rock favourites like the Stones and Van Halen at Hermann’s Upstairs, tomorrow at 8:30pm. 

Dracula: Part 2: The second part of the Dracula trilogy series will be performed at UVic’s Phoenix Theatre, tomorrow at 7:30pm

👀 In Case You Missed It

Victoria’s ethnic diversity slowly growing. [Capital Daily] 

BC’s Youth Parliament now in year 95; remembering an Oak Bay tragedy; and mother asks about missing Parksville daughter. [Newsletter]

Missing Victoria teen found.

Winter wonderland in Strathcona Park. [Photo]

Local lost & found pets for this week via ROAM.

That’s it!

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